Adobe announces record-breaking $1.84 billion in revenue for Q3
Adobe has once again posted record quarterly revenue, this time for the fiscal quarter that ended on September 1, 2017. The software company experienced a 26% year-on-year revenue growth with $1.84 billion in its third fiscal quarter this year. Of that, $1.27 billion came from the company's Digital Media segment, including Creative Cloud. On a GAAP basis, Adobe saw its year-on-year net income grow 55% and its operating income grow 48%.
We'll give you a moment to take that in... 55% net income growth, and a fiscal quarter of $1.84 billion. The jump to a subscription model is treating the company VERY well.
This marks yet another high point for Adobe, which previously posted record revenue during its second fiscal quarter ending in June 2017. During its Q2, Adobe made then record-setting $1.77 billion with its Digital Media segment having driven that revenue.
Looking forward, Adobe anticipates fourth fiscal quarterly revenue of $1.95 billion, which would once again keep it in line with analysts' expectations and set yet another record. Financial highlights from Adobe for Q3 are listed below:
- Adobe achieved record quarterly revenue of $1.84 billion in its third quarter of fiscal year 2017, which represents 26 percent year-over-year revenue growth.
- Diluted earnings per share was $0.84 on a GAAP-basis, and $1.10 on a non-GAAP basis.
- Digital Media segment revenue was $1.27 billion, with Creative revenue growing to $1.06 billion.
- Digital Media Annualized Recurring Revenue (“ARR”) grew to $4.87 billion exiting the quarter, a quarter-over-quarter increase of $308 million.
- Adobe Experience Cloud achieved revenue of $508 million, which represents 26 percent year-over-year growth.
- Operating income grew 48 percent and net income grew 55 percent year-over-year on a GAAP-basis; operating income grew 43 percent and net income grew 46 percent year-over-year on a non-GAAP basis.
- Cash flow from operations was $704 million, and deferred revenue grew to approximately $2.20 billion.
- The company repurchased approximately 2.1 million shares during the quarter, returning $298 million of cash to stockholders.
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